Carlow Chamber advises businesses to 'hope for the best but prepare for the worst' with Brexit
Eight months from UK’s formal exit from the European Union
The publication of the UK White Paper last week is welcome progress but given the short amount of time remaining between now and the October deadline, County Carlow Chamber is advising businesses in the region to “hope for the best but prepare for the worst”.
It is now eight months from the UK’s formal exit from the European Union, and terms of the withdrawal agreement have not yet been finalised.
The impact would affect businesses in several ways and it is imperative that they are prepared.
There are several resources available from Government and State Agencies, including the Brexit Loan Scheme and businesses need to be familiar with these and see which ones may assist them in their preparations.
Speaking on the matter, Brian O’Farrell, CEO of County Carlow Chamber, said: “We are still in a period of uncertainty as to what the final agreement will look like and how it will affect businesses in the region, however it is vital that we all take steps to ensure that our businesses are ready.”
The Chamber advises business to review several areas including:
Review your supply chain and map out imports and exports to and from the UK
Assess the impact of tariffs on a worst case and best-case scenario
Identify the level of customs awareness within your business
Assess the potential increase in the costs of customs compliance
In addition to reviewing your business links with the UK market, this is also a great opportunity for many of our businesses to think about expanding to other markets and capitalising on further opportunities. Chamber Trade Connections was developed to assist in developing existing and new markets, earlier this year we welcomed the Ambassador from the Netherlands to Carlow for discussions on trade and later in the year we will be joined by the Ambassador of Mexico and his team to review current and potential trade links.
Businesses in the region looking for information and further details can contact the Chamber directly, links to several resources are also available on the County Carlow Chamber website at: www.carlowchamber.com